ICAI Guidelines for Calculating Turnover in Transactions related to Future and Options Reliable in the Absence of Statutory Provision: ITAT [Read Order]

ICAI - Guidelines- Transactions - Statutory - Provision - ITAT - TAXSCAN

The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the ICAI ICAI Guidelines for calculating turnover in transactions related to future and options can be relied on in the absence of statutory provision under the Income Tax Act, 1961. The assessee, Shri Sanjay Marotrao Modak was aggrieved by the order of…

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